ORDINANCE NO. 050088
Authorizing the Director of
Finance to accept the proposal of Banc of America Leasing & Capital, LLC
for financing the acquisition of equipment by the Department of Information
Technology for the implementation of a Voice Infrastructure Replacement System
for the City of Kansas City, Missouri in an aggregate principal amount of
$456,087.00; executing any and all documents and agreements necessary for the
financing under a Master Lease Purchase Agreement; estimating $456,087.00 and
appropriating it in accounts as specifically set forth in the ordinance;
appropriating $16,611.00 debt service payments for fiscal year 2004-05;
declaring the intent of the City to reimburse itself from the lease purchase
proceeds for certain expenditures; authorizing the Director of Finance to close
project accounts upon project completion; and designating requisitioning
authorities.
WHEREAS,
the City requires the acquisition of equipment necessary to implement a Voice
Infrastructure Replacement System to establish a long term communication
strategy for the City of Kansas City, Missouri; and
WHEREAS, it is essential that the Department of
Information and Technology acquires the equipment to implement the Voice
Infrastructure Replacement System for
the efficient execution of business, providing a long term plan for voice
communications between the various City entities and residents on behalf of the
residents of the City of Kansas City, Missouri; and
WHEREAS,
the equipment needs to be acquired in a timely manner in order to implement the
Voice Infrastructure Replacement System efficiently and effectively; and
WHEREAS,
the purchase of the equipment will be financed by a draw upon the Citys Master
Lease Purchase Agreement with Banc of America Leasing & Capital, LLC; the
payment of which will be made by annual appropriations in the Information Technology
Department budget, over a five-year period; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Director of Finance is authorized to
accept the proposal of Banc of America Leasing & Capital, LLC for financing
the acquisition of equipment and installation services through a draw upon the
Master Lease Purchase Agreement in the aggregate principal amount of
$456,087.00.
Section 2. That
the Director of Finance is authorized to execute, deliver and file in the name
of the City, the Master Lease Purchase Agreement and any and all documents and
agreements necessary to complete such financing.
Section 3. That
the revenue in the following account of Fund No. 3230, the Equipment Lease
Capital Acquisition Fund, is hereby estimated in the following amount:
AL-3230-120000-830000 Reimbursement
from Bank or Lease Co. $ 456,087.00
Section 4. That the sum of $456,087.00 is hereby appropriated
from the Unappropriated Fund Balance of Fund No. 3230, the Equipment Lease
Capital Acquisition Fund to the following account:
AL-3230-181995-E Equip Ls-Voice Infra Repl $
456,087.00
Section 5.
That the sum of $16,611.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 7150, the Information Technology Department Working
Capital Fund, to the following account:
05-7150-129998-905230 Trsfer
to Equipment Lease Debt Service $ 16,611.00
Fund
Section 6.
That the revenue in the following account of Fund No. 5230, the Equipment Lease
Debt Service Fund is hereby estimated in the following amount:
05-5230-120000-507150
Trsfer from the Information Technology $ 16,611.00
Working
Capital Fund
Section 7.
That the sum of $16,611.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 5230, the Equipment Lease Debt Service Fund to the
following account:
05-5230-189792-B Ls-Purch-05 Voice Infra Repl $
16,611.00
Section 8. That
the Director of the Department of Information Technology is hereby designated
as requisitioning authority for Account No. 05-3230-181995-E and the Director
of Finance is hereby designated as requisitioning authority for Account Nos.
05-7150-129998-905230 and 05-5230-189792.
Section 9. That
the Director of Finance is hereby authorized to close project accounts upon
project completion and return the unspent portion of the appropriation to the
Fund Balance from which it came.
Section 10.
That the City declares its intent to reimburse itself for certain expenditures
made within 60 days prior to or on and after the date of this ordinance
with respect to the equipment of
the Voice Infrastructure Replacement System with the proceeds of the lease
purchase expected to be drawn upon the Master Lease Purchase Agreement with
Banc of America Leasing & Capital LLC. The maximum principal amount
expected to be financed under the lease purchase is $456,087.00.00.
_____________________________________________
I hereby certify that
there is a balance, otherwise unencumbered, to the credit of the appropriation
to which the foregoing expenditure is to be charged, and a cash balance,
otherwise unencumbered, in the treasury, to the credit of the fund from which
payment is to be made, each sufficient to meet the obligation hereby incurred.
___________________________________
Wanda
Gunter
Acting
Director of Finance
Approved
as to form and legality:
___________________________________
Heather
A. Brown
Assistant City Attorney